Janus Henderson Group PLC bought a new stake in Impax Laboratories Inc (NASDAQ:IPXL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,407,548 shares of the specialty pharmaceutical company’s stock, valued at approximately $28,573,000. Janus Henderson Group PLC owned about 1.90% of Impax Laboratories at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its holdings in Impax Laboratories by 12.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,911 shares of the specialty pharmaceutical company’s stock valued at $111,000 after buying an additional 780 shares during the period. Amalgamated Bank purchased a new stake in shares of Impax Laboratories during the 3rd quarter worth about $201,000. Quantbot Technologies LP grew its holdings in shares of Impax Laboratories by 279.0% during the 3rd quarter. Quantbot Technologies LP now owns 10,031 shares of the specialty pharmaceutical company’s stock worth $203,000 after purchasing an additional 7,384 shares during the period. Stevens Capital Management LP acquired a new position in Impax Laboratories during the 3rd quarter worth approximately $203,000. Finally, Advisory Services Network LLC acquired a new position in Impax Laboratories during the 2nd quarter worth approximately $207,000. 90.48% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the company. Leerink Swann started coverage on Impax Laboratories in a research report on Tuesday, January 2nd. They set an “outperform” rating and a $22.00 price target on the stock. Zacks Investment Research lowered Impax Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Canaccord Genuity set a $19.00 price target on Impax Laboratories and gave the company a “hold” rating in a research report on Monday, December 18th. Cantor Fitzgerald set a $35.00 price target on Impax Laboratories and gave the company a “buy” rating in a research report on Friday, December 15th. Finally, Guggenheim assumed coverage on Impax Laboratories in a research note on Tuesday, December 12th. They set a “neutral” rating and a $18.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $19.62.
Shares of Impax Laboratories Inc (NASDAQ IPXL) traded up $0.60 during midday trading on Friday, hitting $19.10. The stock had a trading volume of 727,105 shares, compared to its average volume of 809,100. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.32 and a current ratio of 1.81. The firm has a market cap of $1,400.00, a price-to-earnings ratio of -3.06, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. Impax Laboratories Inc has a fifty-two week low of $7.75 and a fifty-two week high of $25.70.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $206.40 million for the quarter, compared to analyst estimates of $208.38 million. Impax Laboratories had a positive return on equity of 9.06% and a negative net margin of 56.59%. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 EPS. analysts predict that Impax Laboratories Inc will post 0.64 earnings per share for the current year.
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Impax Laboratories Company Profile
Impax Laboratories, Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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